Walmart Ground Lease Retail
For Sale
Contact for pricing
1220 Highway 466, Lady Lake, FL 32159
Newly developed retail property supported by a 20-year ground lease and positioned within a growing residential and commercial corridor.
Property Size48,852 SF
Price / SF$134.18
Days on Market56
Property Features for 1220 Highway 466
General Information
Standard status
Active
Size
48,852 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$295,000
Site & Location
Corner Location
Yes
Traffic Count
24,000 vehicles/day
Building Details
Year Built
2026
Tenancy
Single
Listing Agency:
Colliers - San Diego - Carlsbad, California
Listed By:
Thomas Ladt · License #CA 01803956
Source:
Crexi
Added: Jul 7
Changed: Aug 30
Last Checked: Aug 30 at 7:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Colliers - San Diego - Carlsbad, California
Investment Insights
Based on property information with market context.
This 48,852-square-foot retail property is scheduled for completion in 2026 and is structured around a 20-year ground lease with Walmart. The asset occupies a hard-corner position along County Road 466, providing access and exposure within an established commercial and residential corridor.
The property is positioned at the entrance to Hammock Oaks, a community planned for 1,142 residential units, and The Reserve, planned for 1,032 units. It is also adjacent to The Villages, a 55-plus master-planned community with 145,000 residents and 18,000 employees. County Road 466 carries 24,000 VPD, while the primary trade area includes 111,179 residents and 124,734 daytime residents.
Household income averages $112,187 within 1 mile and $103,821 within 5 miles, providing additional demographic context for the surrounding retail corridor.
The property is positioned at the entrance to Hammock Oaks, a community planned for 1,142 residential units, and The Reserve, planned for 1,032 units. It is also adjacent to The Villages, a 55-plus master-planned community with 145,000 residents and 18,000 employees. County Road 466 carries 24,000 VPD, while the primary trade area includes 111,179 residents and 124,734 daytime residents.
Household income averages $112,187 within 1 mile and $103,821 within 5 miles, providing additional demographic context for the surrounding retail corridor.
Key Highlights
- 48,852‑square‑foot retail property scheduled for completion in 2026
- 20‑year ground lease with Walmart
- Hard‑corner location along County Road 466 with 24,000 VPD
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$552,135
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,042,700
$11.0M
Cap Rate 7%
$7,887,643
$7.9M
Cap Rate 9%
$6,134,833
$6.1M
Market Conditions
NOI Build-Up for 48,852 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$879.3K $18.00/SF
− Vacancy
−$90.6K −$1.85/SF
EGI
$788.8K $16.15/SF
− OpEx
−$236.6K −$4.84/SF
NOI
$552.1K $11.30/SF
Area
Sumter County, FL
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$11,042,700
Cap Rate 7%
$7,887,643
Cap Rate 9%
$6,134,833
Alternative Uses
Best Use
Specialty Retail
$8.81M
$7.71M – $10.28M
NOI $616,634 @ 7.0% cap · market cap 9.41%
Second Best
Retail
$7.89M
$6.90M – $9.20M
NOI $552,135 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$13.99M
$12.24M – $16.32M
NOI $978,994 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
716
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
SmartStop Self Storage
Shops & Services
1,602 visits/mo
0.2 miles
Demographics for 32159, FL
30,455
Population
19,670
Households
1.5
Avg Household Size
69
Median Age
29%
College-Educated
95%
High-School Grad
30.2 sq mi
ZIP Area
1,008
Density / Sq Mi
$57,536
Median Household Income
$30,723
Median Earnings
$1,370
Median Rent
$272,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Newly developed retail property supported by a 20-year ground lease and positioned within a growing residential and commercial corridor.
Where is this retail space located?
The property is located at 1220 Highway 466 Lady Lake, FL.
What is the asking price?
The asking price for this property is $6,555,000.
What are key features of this property?
This property features: 48,852‑square‑foot retail property scheduled for completion in 2026; 20‑year ground lease with Walmart; Hard‑corner location along County Road 466 with 24,000 VPD
